By Mark Pender
NEW YORK (MNI) – MNI’s U.S. capital goods indicator, at 43.7 in the
June 22 period, is one full point deeper into year-on-year contraction,
according to the results of MNI’s weekly survey released Monday.
Income is -5% year-on-year with sales at +1.8%. Currency effects
are shaving two percentage points from sales. Sample size in the period
is 263 companies.
The second-quarter warning season is a busy one so far for the
capital goods sectors as companies assess the damage from Europe.
Slowing in China is also a widely cited negative.
Second-quarter guidance from the sample still points to sequential
sales growth, though only marginal growth. The non-defense category went
into reverse in April with government data on May to be posted on
Wednesday.
Editor’s Note: MNI compiles its capital goods index based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
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